Investor Presentaiton

Carty Generating Station update • • On July 16, 2018, PGE entered into a settlement with the bonding companies, the contractor and its parent corporation to resolve all claims relating to Carty construction The settlement contributes 12 cents per share to the 2018 EPS Carty Generating Station, a 440 MW natural gas baseload plant near Boardman, OR Cost to Construct $640M Approved Rate Base $514M Incremental Capital Cost $126M Accumulated Depreciation ($6M) Net Book Value of Incremental Capital Costs $120M Settlement Cash Proceeds ($130M) Remaining Proceeds - Reflected in A&G ($10M) Portland General Electric 17

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